The acquisition and merger of the two companies, just like marriage, is not just a matter for two people, first of all, to get legal recognition, and then to prepare for the wedding, how to take wedding photos, how big to buy rings, how to decorate the new house, what kind of furniture style, what scene to choose for the wedding... Even if the certificate has been pulled, any of them are not negotiated, which may lead to a marriage change before the wedding.

Even if you pull the certificate, you may get married and divorce in a flash, not to mention the merger and acquisition of two companies with a market value of billions of dollars.

The proceeds of Carl Icahn's investment all come from the stock premium brought by Matrix's acquisition of Apple, but if the acquisition does not go well and Matrix withdraws from the acquisition, Apple's own stock will inevitably plummet, and his investment will completely fail at that time.

"Honey, I'm going to Home Depot in the afternoon to buy a set of power tools, don't you want to buy a new set of couches?" asked Cheryl Burger, who was changing clothes, as Paul Stevenson cleaned up the dining table.

Cheryl Sandberg hurriedly put on her shirt and kissed Stevenson on the cheek, "Sorry, dear, I'm going to the company in the afternoon, you can go by yourself, the sofa in the special area is good, the blue one." ”

Stevenson frowned: "It's Saturday, what are you doing in the company?"

Cheryl sighed: "There are some problems with the merger of Matrix and Apple, we have been busy with these things for the past week, sorry, dear, Nina just informed me that there are three meetings to be held, and it may be very late to come back today." ”

Stevenson's pupils shrank, and after Carl Icahn contacted him, he had been hesitating how to cut through for the past two days. On the one hand, he instinctively felt that Zhang Chen might be suspicious of him, and on the other hand, he really had feelings for Cheryl and didn't want to deceive the other party anymore.

Well, this is the last time. Stevenson said silently in his heart.

"I've read the report, but there shouldn't be any problem, right? Since the merger has been announced before, the general direction should not be controversial, and Apple can't come up with any leverage now, so what can go wrong?" Paul Stevenson said casually, putting the dishes in the dishwasher.

Cheryl Sandberg sighed: "It was supposed to be like this, but now, alas... As you know, Steve Jobs was always reluctant to agree to the acquisition, so... At this, Cheryl Sandberg paused, put her arms around Stevenson's neck, and looked apologetic, "Sorry, I said too much. ”

Paul Stevenson was a little calculating, and forgiving: "It's me who is not good, we shouldn't talk about this at home, then, drive carefully." ”

Cheryl Sandberg smiled happily and turned around to leave, when Paul Stevenson suddenly stopped her and helped her straighten the collar of the Chanel suit, "Very good, you are such a charming goblin." ”

Cheryl Sandberg smiled sweetly before leaving Paul Stevenson's one-family home.

Paul Stevenson's eyes were complicated, and he turned and went upstairs.

The house he rented had an attic for some miscellaneous items, and Paul Stevenson lifted two wooden floors in the corner of the attic and pulled out a small suitcase from underneath.

Paul Stevenson wiped the dust from the prepared damp rag, sighed, clicked, and opened the suitcase, which turned into a console with a pair of headphones inside.

Paul Stevenson put the headphones on his head, adjusted a few knobs, and listened intently.

"Our request is very simple: Matrix will terminate the merger by transferring all of its shares in Apple to current Apple management for $2.9 billion, and at the same time, Apple will grant Matrix a patent waiver, which is a list of patents that can be exempted. ”

。。。。。。

"Yes, MBO, it's a win-win for both of us. ”

。。。。。。

"Of course, you do have an absolute majority stake. However, here are the resignation letters of 3,791 current Apple employees, in addition to the disputed claims of 8,799 patents. If you don't agree with the management MBO, you only get an empty shell. ”

。。。。。。

"Unfortunately, we have a lot of money, and Oracle has made a $3.5 billion credit facility to Apple's management, which is more than enough to cover the equity transfer. ”

。。。。。。

Paul Stevenson's pupils shrink, MBO?Jobs wants to do MBO?

MBO means management buyout, and in the modern corporate system, management and ownership are separated. The owner of the enterprise entrusts the operation of the company to professional managers, and he controls the appointment and dismissal of professional managers through the board of directors.

Under normal circumstances, professional managers are only tools in the hands of business owners, but if professional managers have very strong control over the company or have made great contributions and have been recognized by many shareholders, then professional managers will inevitably not be satisfied with the mere salary and the pitiful restricted equity, but seek more benefits.

At this time, the management may initiate an MBO, that is, a management buyout, and truly change from the manager of the enterprise to the owner of the enterprise.

Since the management is only a professional manager, the funds are definitely insufficient, but with the support of modern financial instruments, it is not too much of a problem for the management to raise the funds for the MBO.

As long as this company is good enough, there will naturally be countless financial institutions vying to lend them money.

But is it possible for Jobs to do an MBO on Apple?

Apple itself is terminally ill, its stock has fallen again and again, and its financial situation has always been hovering on the line of life and death, and it has been classified as junk by many rating agencies, and merging with Matrix should be the best outcome for them. At this time, Jobs proposed a management buyout?

No, this possibility cannot be ruled out.

Steve Jobs has always done things unexpectedly, and Apple means too much to him, and of course he is not willing to let the legendary company he founded be bought by Matrix, an upstart who has just been founded.

The confrontation between Zack and Jobs is a well-known thing in Silicon Valley, and with Jobs's character, it will definitely not allow Zack to complete the annexation of Apple so easily.

Moreover, before Matrix acquired Apple, Larry Ellison did say many times that he would support Jobs for Apple's MBO.

This is indeed shocking news。。。。。。

Paul Stevenson listened carefully to the sound coming from the headphones as he took a pen and took notes.

There is still more information to tell.

Cheryl Sandberg is not exaggerating, she was indeed very busy this afternoon, and there were more than three meetings, from two o'clock to eight o'clock in the evening, all kinds of meetings.

Judging from the feedback at the meeting, the outlook is indeed not optimistic, which basically verifies Paul Stevenson's judgment.

The attitude of Apple's management is very tough, there is no sincerity in negotiations at all, X is now Apple's controlling party, as long as they do not agree to the MBO, Apple's management's purpose will not be achieved. But Apple's management also has a few hole cards in their hands, and if the bottom of the kettle is drawn, in the end, Matrix may only get an empty shell. Under the effect of negative news, the value of the stocks in their hands will inevitably be greatly affected.

Now it is a process of game between the two sides, and it depends on who can win in the end.

(End of chapter)